Passenger Marine Transportation

Ground Transportation

China's senior tourists could be a silver lining for travel companies

Travel companies are betting that Chinese tourist could return to its prepandemic boom days if they modify tours to avoid high hikes, include nurses and healthcare professionals to their staff and deal discounts for the seniors they're targeting. As China's population quickly ages, and many in the middle-class face task unpredictability and a slowing economy, so-called silver tourist is on the increase, with more retirees, specifically in upscale seaside cities, venturing out in your home and abroad. A number of these seniors have accumulated considerable cost savings during 4 decades of eye-watering financial development, and they are more youthful than...

Passenger Marine Transportation

Yemen's Houthis claim first attack on shipping lanes in two weeks

Yemen's Iranaligned Houthi motion stated on Sunday that it targeted the MV Groton vessel in the Gulf of Aden, claiming its first attack on shipping lanes because Israel performed a vindictive airstrike in Hodeidah port on July 20. Houthi military spokesperson Yahya Saree stated in a televised declaration that the ship was attacked by ballistic rockets. British maritime company UKMTO and British security firm Ambrey stated on Saturday that the vessel was targeted by a. rocket 125 nautical miles east of Yemen's port of Aden. Both said the ship did not sustain damage and that no water. entry or oil...

Passenger Ground & Sea Transportation

How Iranian oil link could complicate insurance claims after tankers clash off Singapore

An accident between 2 tankers off Singapore in July raises questions over insurance coverage claims, as one of the vessels formerly delivered Iranian oil, possibly complicating payments due to Western sanctions, shiptrackers and industry sources state. WHAT HAPPENED? The Singapore-flagged Hafnia Nile and the Sao Tome and Principe-flagged Ceres I clashed and caught fire about 55 km ( 35 miles) northeast of the Singaporean island of Pedra Branca on July 19. No oil spill has actually been detected, only a sheen thought to be from damage to the Hafnia Nile's bunker tank, Malaysia's Marine Department said. The vessel, which was...

Passenger Ground & Sea Transportation

Oil tankers on fire after colliding near Singapore, team saved

2 big oil tankers were on fire on Friday after clashing near Singapore, the world's biggest refuelling port, with 2 team members airlifted to healthcare facility and others saved from life rafts, authorities and among the tanker operators said. Singapore is Asia's biggest oil-trading center and the world's. largest bunkering port. Its surrounding waters are crucial trade. waterways in between Asia and Europe and the Middle East and amongst. the busiest international sea lanes. The Singapore-flagged tanker Hafnia Nile and the Sao Tome. and Principe-flagged tanker Ceres I were about 55 km (34 miles). northeast of the Singaporean island of...

Passenger Transportation Services

Luxury yacht insurance coverage supplier OMAC is hull carrier for sunken luxury yacht in Sicily, sources state

Luxury yacht insurance coverage supplier OMAC is the provider on the hull for the Bayesian, a 56metrelong (184ft). sailboat, that was hit by a relentless storm on Monday, sinking. off the northern coast of Sicily, two sources with knowledge of. the matter stated. The syndicates providing insurance coverage include Travelers. Companies Inc, Navium Marine and Convex, while British. Marine is the security and indemnity (P&I) insurance supplier,. the sources stated. Reuters could not establish the value of the yacht or what. the worth of potential claims might be. Ships usually have P&I insurance coverage, which covers third-party. liability claims consisting...

Passenger Transportation Services

Tanker rates extend rally on sanctions, need to load Mideast oil, products

Oil shipping rates extended their rally on expectations of a tightening up in worldwide tanker supply from wider U.S. sanctions on Russia's fleet and traders' need for ships to pack Middle East oil for Asia, market sources stated on Wednesday. On Tuesday, Shell reserved three Very Large Crude Carriers, efficient in carrying up to 2 million barrels of oil, at the rate of Worldscale 70 to load Middle East crude in early February and Chinese refiner Shenghong Petrochemical booked two VLCCs for the exact same loading duration at the same rate, a. shipbroker stated. Worldscale is an industry tool to...

Transport Infrastructure

Tanker rates extend rally on sanctions, demand to load Mideast oil

Oil shipping rates extended their rally on expectations of a tightening in worldwide tanker supply from wider U.S. sanctions on Russia's fleet and traders' demand for ships to pack Middle East oil for Asia, market sources said on Wednesday. On Tuesday, Shell reserved three Large Crude Providers, efficient in bring as much as 2 million barrels of oil, at the rate of Worldscale 70 to load Middle East crude in early February and Chinese refiner Shenghong Petrochemical scheduled 2 VLCCs for the exact same loading duration at the same rate, a. shipbroker said. Worldscale is an industry tool to compute...